NEW YORK (CBSNewYork) — A property tax revolt is brewing in areas of New York City hard hit by Hurricane Sandy. Residents are crying foul over the city’s decision to raise the assessed value — and the taxes — on homes damaged by the storm.

Imagine the nerve … the chutzpah … Your home sustains more than $100,000 in damages from the hurricane and the resale value immediately plummets, only to have the city say it’s actually worth more and you have to pay higher taxes, CBS 2′s Marcia Kramer reported Monday.

“I think they have a different reality and the reality is Mayor Bloomberg making money for the city. That’s what counts, not the people,” said Ira Zalcman, president of the Manhattan Beach Community Group.

The city has sent out higher tax bills — pre-set before Sandy hit. Homeowners are angry they weren’t readjusted down, and they’re mostly angry at Bloomberg.

1. The news story is probably incomplete and innacurate

Property assessments are usually set as of a certain date (in NJ it is October 1) so probably these people got notices that their property assessments were at a certain level as of the date NY City (or state) sets every year for property assessments. That won't prevent these people from applying to reduce the assessments due to Sandy.